Public cloud investment

Public cloud services have experienced tremendous growth across Asia Pacific over the last five years, growing an average 40% each year between 2015 and 2020 to reach $43 billion across the eight focus markets in this study.

Key findings include:

• The region will continue to lead the way in the adoption of public cloud services, over the next few years, with IT cloud spend forecasted to triple by 2024 to more than $116 billion.
• Two industries are going to lead the way, with the remaining industries seeing significant potential for competitive advantage, driven by cloud adoption in the future.

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The use of cloud

Most businesses have made large strides in investing and adopting cloud technology. Overall, only 7% of business leaders surveyed indicated their organisations had not adopted any cloud technology. However, of those organisations that have adopted cloud technology the sophistication and level and adoption vary significantly with only 11% indicating an advanced level of adoption.

Key findings include:

• The most common use of cloud by businesses is supporting operational efficiency but there are significant differences across industries
• Around two thirds of businesses are seeking to increase the cloud skills of their workforce
• In the next five years, the region will see greater take up of industry 4.0 technologies, underpinned and enhanced by cloud

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Cloud readiness

The level of cloud adoption varies across industries and markets. Across markets, cloud readiness can be affected by the industry structure of the economy, government policies and the market’s economic development. Across industries, cloud adoption will be affected by the respective industries’ investment in technology, level of disruption occurring in the industry (e.g. ease of new entrants) and intensity of competition.

Key findings include:

• We have identified 4 key domains that measure the readiness of organisations to realise the potential of cloud
• Most businesses already have some basic use of cloud though only one out of ten would have a high degree of readiness
• How cloud ready companies are, will be important for the next steps they take.

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Business benefits of cloud

Cloud has real and significant benefits to organisations. Business leaders in the region identified several core organisational benefits associated with implementing cloud technology and expect investments in cloud technology to have an impact on future bottom line.

Key findings include:

• Operational efficiency is the top ranked organisation benefit associated with cloud technology, with 72% of business leaders surveyed stating they were already experiencing benefits.
• The potential of cloud and the advanced technologies it could enable, means there will likely be new business value creating opportunities that the world has not even come to realise yet.
• By taking the next step in their cloud journey businesses can reinvent themselves and gain a competitive edge.

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Economic value of cloud

Productivity is a measure of how efficiently an economy uses labour and capital resources when producing and delivering goods and services. It is the fundamental driver of economic growth and key to long term improvements in living standards.

One way to improve productivity is through technological enhancements. Cloud contributes to labour and capital productivity by increasing the effectiveness and efficiency of both. Cloud services also act as an important enabler for other digital technologies, such as artificial intelligence, which are themselves driving productivity growth.

Key findings include:

• We estimate that, between 2015 and 2019, the adoption of cloud services contributed $US98 billion (in 2019 real terms) to GDP in the Asia Pacific region.
• Overall, there are more benefits to come from cloud. Deloitte Access Economics expects the adoption of cloud services to contribute a further $US160 billion to the Asia Pacific economy from 2020 to 2024.

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Cloud isn't just a future technology. It's driving busniess and government right now

Read the report here.